The global footwear market is rising expeditiously as footwear is increasingly becoming a fashion accessory. Not only this, the increasing demand for trendy, yet comfortable footwear among all age groups a key factor driving the global footwear market. With increasing participation in sporting activities and changing lifestyle, there is a massive demand for athletic shoes among non-sportspersons as well. Manufacturers are continuously focused on expanding their product portfolio in order to gain competitive advantage in this market.

The availability of footwear through various retail channels and the gaining prominence of online retailers is triggering the impulse buying behavior of consumers, thereby benefitting the footwear market. On the other hand, the availabity of counterfeit products that are developed by local manufacturers is anticipated to hinder the growth of the global footwear market during the forecast period.

Footwear comprises men’s shoes, women’s shoes, and children’s shoes. These include all kinds of outdoor and indoor shoes made of materials such as leather, plastic, and rubber.

The global footwear market stood at a valuation of US$215709.0 mn in 2016 and is expected to be worth US$278860.7 mn by 2025 in terms of revenue rising at a CAGR of 3.0% between 2017 and 2025.

Non-athletic Product Segment to Continue Witness Robust Demand

By product type, the global footwear market is segmented into non-athletic footwear and athletic. Athletic footwear is further divided into soccer/football shoe, running and cross training/tennis shoe, golf shoe, hiking shoe, basketball shoe, baseball shoe, and others. On the other hand, non-athletic is sub-segmented into casual footwear, military boots, dress evening footwear, lite hiking outdoor sandal, and others. Non-athletic segment led the market in terms of both revenue and volume accounting a market share of approximately 52.9% and 64.0% respectively in 2016.

The market has been classified on the basis of material into rubber, plastic, and others. Rubber held the dominant 24.2% revenue share and 25.6% volume share in the footwear market in 2016. This is because rubber is the most material that is used in every type of shoe ranging from athletic to non-athletic.

Based on distribution channel, the market has been classified into online channels, supermarkets and hypermarkets, independent retail stores, shoe stores, independent retail stores, textile retailers, and departmental stores. In 2016, online channels, independent retail stores, and supermarkets and hypermarkets collectively held more than 70% of the market in terms of revenue. The high preference among consumers to make purchases through these channels accounts for their high revenue share to the overall market.

On the basis of end-use, the footwear market is classified into men’s footwear, women’s footwear, and kid’s footwear. Among these, women’s footwear accounts for the leading contribution in terms of both revenue and volume. Women’s footwear remains a dynamic category with the presence of several brands, huge increase in points of sale, and significant budgets for marketing and advertising campaigns.

Asia Pacific to Emerge Significant Market in Near Future

On the basis of geography, the footwear market is divided in this report into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. In terms of revenue, North America led the market in 2016 holding 35.6% of the overall market. However, Asia Pacific led in terms of volume accounting for 40.5% of the market in the same year.

This market research study analyzes the global footwear market and provides estimates in terms of revenue (USD Million) and volume (Million Units) from 2016 to 2025. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period from 2017 to 2025. Moreover, it identifies the significant opportunities for market growth in the years to come.

Global Footwear Market: Market Dynamics

The global footwear industry has been experiencing rapid expansion, primarily due to rapid demand for new and innovative footwear products worldwide. Due to advancements in manufacturing processes, technology innovation and integration, modern, trendy, and comfortable shoes are being continuously developed at reasonable prices in order to keep pace with the growing demand for these products.

Rising sports activity has significantly increased the focus on sportswear globally. Different international brands are merging sportswear with fashion wear nowadays. In addition, there has been a surge in health and fitness activities among consumers worldwide, particularly in running and other sports. Thus, leading sports brands are continuously involved in the manufacturing of technically sophisticated and innovative products. On account of their changing lifestyles, men and women are wearing sports-inspired footwear in daily life. Versatility, comfort, and style are some of the major factors driving the appeal of sportswear, which in turn is likely to propel the growth of the footwear market globally.

An overall rise in the retail culture is triggering the growth of global footwear market. Factors such as great diversity in the footwear market and easy availability of products in many retail outlets are anticipated to encourage impulse buying of these products. Different brands as well as retailers are re-orienting their focus on this market, which has led to a significant increase in the number of retail outlets worldwide. Moreover, there has been noteworthy growth in the advertising and marketing related investments made by different brands. Internet retailing is also gaining prominence for the purchase of footwear across different cities. This channel is gaining popularity for the purposes of shopping for women’s footwear as well as sports footwear.

However, increasing production of counterfeit footwear products by local manufacturers is hindering the growth of the global footwear market. These duplicate products are hampering the distribution channel and are leading to a negative impact on the overall growth of the market.

Global Footwear Market: Market Segmentation

The report segments the market based on product type which includes athletic footwear and non-athletic footwear. The global athletic footwear market is further segmented into running and cross training/tennis shoe, soccer/football shoe, golf shoe, basketball shoe, hiking shoe, baseball shoe and others. The global non-athletic footwear market is classified into casual footwear, dress evening footwear, military boots, lite hiking outdoor sandal and others. On the basis of end use, the footwear market is subdivided into men’s footwear, women’s footwear and kids footwear. Based on materials, the market has been segmented into rubber, plastic and others. Additionally, based on distribution channel, the footwear market has been classified into online channels, shoe stores, supermarkets and hypermarkets, independent retail stores, textile retailers, and departmental stores. Furthermore, the global footwear market has been divided by geography into North America, Europe, Asia Pacific and rest of the world (RoW).